Q1. The India–Mercosur trade arrangement, re-energised during President Lula's February 2026 visit to India, is best described as which one of the following?
- A. A Free Trade Agreement (FTA) eliminating tariffs on substantially all goods
- B. A Preferential Trade Agreement (PTA) granting concessional tariffs on a limited basket of goods
- C. A Comprehensive Economic Cooperation Agreement (CECA) covering goods, services and investment
- D. A Customs Union with a common external tariff